Stocks slid Monday and Treasury yields fell as traders soured on the reflation trade in the wake of a hawkish pivot by the Federal Reserve. The dollar remained at about a two-month high.
Japan led the Asian equity weakness, with the Nikkei 225 down as much as 4%, while European and U.S. stock futures declined. Treasury yields retreated, taking the 30-year rate below 2% for the first time since February, as the prospect of less accommodative U.S. monetary policy buffeted markets.
The Treasury yield curve continued to flatten, unwinding one of this year’s dominant reflation bets. Short-maturity yields surged after Fed official James Bullard said inflation risks may warrant higher interest rates next year, an earlier liftoff than penciled in by many of his colleagues.
Gold stabilized after slumping last week. Oil climbed above $72 a barrel as talks between world powers and Iran dragged on, potentially delaying the return of the latter’s energy exports.
Nikkei -3,39% Hang Seng -1,32% CSI -0,57% Shanghai -0,22% Shenzen +0,36%
Eur$ 1.1848 CNH 6,4782 CNY 6,47 JPY 109,78 GBP 1,3787 CHF 0,9228 RUB 72,7969 TRY 8,7730 WTI$ 72,06 Gold 1,774,45 BTC 34,700 +120 ETH 2,150 +25
S&P -0,39%% Nasdaq -0,18% EuroStoxx -0,81%% FTSE -0,82% Dax -0,78% SMI -0,74%
Macro :
Macro :
- U.K. Housing Market Slows, Propped Up by People Leaving London
- Morgan Stanley Sees Oil-Drilling Budgets Expanding Through 2024
- Morgan Stanley Sees Oil-Drilling Budgets Expanding Through 2024
- Taper No Grounds for Tantrum to Stock Bulls Wielding $28 Billion
- U.K. Signals Overseas Travel Limits Will Remain as Covid Spreads
- Bitcoin Drops as Hashrate Declines With China Mining Crackdown
- Iran Says It Needs Guarantee U.S. Won’t Quit Nuclear Deal Again
Keep an eye on :
Keep an eye on :
- AIR FP : Boeing Says Continuing to Work on 787 Certification Delay
- AMBUB DC : Ambu Gets FDA Clearance of Single-Use Bronchoscope System
- BBVA SM : BBVA Looking to Sell Depositary Subsidiary for EU400M: Expansion
- BAVA DC : Bavarian Nordic May Sell Its Covid Vaccine Candidate, JP Reports
- CLOUD NO : Cloudberry Clean Energy to Issue as Many as 2.8M Shares
- CNHI IM : CNH Industrial Agrees to Buy Raven Industries for $58/Share
- DBK GY : Deutsche Bank Wants U.K. Grads Back in the Office: Insider
- ELM LN : Positive article in the Barrons, cited as potential takeover target after having reject already 2 recents approach
- ALEMG FP : Roturier Family Cuts Euromedis Stake to 4.69% of Capital: AMF
- GALP PL : Portugal’s ENSE Says Gasoline Consumption Rose 28% in May
- HOC LN : Hochschild Mining Announces Fatal Transport Accident in Peru
- ISP IM : Intesa, Tinexta Announce Partnership to Support Italian SMEs
- JUVE IM :Juventus May Need New Capital Injection, Sole Reports
- JUVE IM :Juventus May Need New Capital Injection, Sole Reports
- LHA GY : Lufthansa Plans About 190 Weekly U.S.-Europe Flights From July
- MRW LN : CD&R Considers 5.5 Billion-Pound Bid for Morrisons, Sky Reports
- MRW LN : CD&R’s Rejected $7.6 Billion Morrison Bid May Be Just a Start
- ONTEX BB : Ontex Sees Stable 2021 LFL Revenue With Return to Growth From 2Q
- PID FP : Paragon ID Acquires Security Label; Terms Not Disclosed
- PENNEO DC : Penneo to Move to Nasdaq Copenhagen Main Market; Raise Capital
- PEUG FP : Peugeot Freres to Split CEO and Chairman Roles
- PAH3 GY : Porsche to Make High-Performance Battery Cells in New Venture
- PSM GY : RTL May Position as Alternative for ProSieben: DealReporter
- RTL LX : RTL May Position as Alternative for ProSieben: DealReporter
- SPIE FP : Spie to Buy Wiegel Gebäudetechnik; No Terms
- TEL NO : Axiata, Telenor Said to Ink $11 Billion Deal for Malaysia Tie-up
- VIV FP : Ackman SPAC to Pay $4 Billion for Vivendi Universal Music Stake
- VIV FP : Loeb Builds Vivendi Stake at Crunch Time for Bollore’s Empire
- VONN SW : Vontobel Expects to Post Higher 1H Profit vs Last Year